Bernstein Sees Short-Term Crypto Bear Cycle Reversing in 2026 With Bitcoin Bottoming at 60K
Institutional flows and US policy shifts could make this the most consequential cycle for digital assets
The analysis points to institutional flows, evolving US policy, and growing sovereign-asset considerations as factors that could drive a significant bull market once the current correction runs its course.
Bernsteins 60,000 dollar floor target suggests additional downside from current levels around 77,000, but positions this as a buying opportunity rather than cause for alarm.
The firm argues that institutional adoption continues despite price volatility, with corporations, pension funds, and even nation-states increasingly viewing bitcoin as a legitimate asset class.
US regulatory clarity, while still evolving, has improved significantly compared to previous cycles. This reduced uncertainty makes institutional allocation more feasible.
Analysis
Why This Matters
Major investment firms calling cycles influences institutional behavior. Bernsteins bullish long-term outlook despite near-term caution could attract fence-sitters.
Background
Previous bitcoin cycles have shown roughly four-year patterns tied to halving events. The most recent halving occurred in 2024.
Key Perspectives
Bulls see the 60K level as a generational buying opportunity. Bears argue institutional adoption has not delivered promised stability.
What to Watch
Whether bitcoin finds support near 60K and whether institutional buying accelerates at lower prices.